Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Brazilian Oil Workers’ Strike Continues as Key Petrobras Union Rejects Proposal 
Canada’s local food system faces major roadblocks without urgent policy changes 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
Japan Plans $189 Billion Bond Issuance as Record Budget Signals Expansionary Fiscal Policy 
Wall Street Ends Post-Christmas Session Flat as Investors Eye Santa Claus Rally 
Oil Prices Hold Steady in Asia as Geopolitical Tensions Support Market 
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder 
Oil Prices Rise on Venezuela Sanctions and Nigeria Airstrikes Despite Annual Losses 
Debate over H-1B visas shines spotlight on US tech worker shortages 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want 
UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
Dave & Buster's, the popular US entertainment business, plans to open 20 new stores in India and Australia, marking a significant move in its global expansion strategy. The move comes after recent fiscal growth and successful share repurchase endeavors.
The US-based restaurant and entertainment business is set to open 15 in India in partnership with the Malpani Group and roll out five stores in Australia with NightOwl Entertainment Group. The deals are the company's second and third multi-store franchise agreements. Dave & Buster's has committed to developing 31 stores since the company's global expansion plans last year.
According to Antonio Bautista, chief international development officer of Dave & Buster's, the Malpani Group is poised to dominate the indoor and outdoor entertainment industry," said. He added that with Australia's dynamic market representing a significant opportunity for growth, the NightOwl Entertainment Group is the ideal partner for their brand.
In the first quarter of fiscal 2023, Dave & Buster's announced earnings that were higher than expected at $70.1 million, or $1.45 per share. Even though it was less than analysts had predicted, revenue increased by 32.4% to $597.3 million.
Dave & Buster's reported that it spent $125.5 million on the repurchase of 3.6 million shares during the quarter. Since then, it has acquired an additional 2.1 million shares for $74.5 million, bringing the total number of shares purchased this fiscal year to 5.7 million for a total of $200 million.
Dave & Buster's CEO Chris Morris said the company has taken advantage of the strategic opportunities found "to unlock significant revenue growth and cost efficiency opportunities in our business."
Established in 1982, the Coppell, Texas-based Dave & Buster's owns and operates 200 venues across North America under the trademarks Dave & Buster's and Main Event. Dave & Buster's has 152 locations across 41 states, Puerto Rico, and Canada. There are 152 Dave & Buster's locations spread out throughout 41 states, Puerto Rico, and Canada.
Photo: Ser Amantio di Nicolao/Wikimedia Commons(CC BY-SA 3.0)
